More jobs would be great, but Cary is still thriving

Posted on 07/16/14 No Comments

713RushingFalls_front

Homes for sale like 713 Rushing Falls Place in Fuquay-Varina are helping attract new business to many towns throughout the Triangle.

 

It’s rare that a town could “sustain” not winning a bid for a company relocation that could bring well over 1,000 jobs.

Cary is in good position to be the relocation destination of choice for an IT and engineering firm. It’s still far from done, but the incentives have been offered and local leadership is making the right moves to see it happen.

Still, Cary remains the hottest real estate market in the Triangle and is still growing. Companies continue to eye our corner of the Triangle for a number of reasons, the first of which is probably the housing value. The options and community types are plenty, taxes are very reasonable compared to many other national markets, and our schools continue to matriculate good students.

In exchange for an incentive package well into the millions—standard practice in today’s economic development game—the company would eventually hire up to 1,300 people with an average salary of $52,000. While that’s not as much as the MetLife relocation per employee generates, it’s nevertheless well worth the City’s cash outlay.

We would be remiss if we didn’t mention that the Triangle is so attractive to so many companies because of our tremendous supply of educated and skilled workers. Whether born and bred through our local schools and colleges or a transplant who came to work in  tech or pharma, the Triangle is all but bursting with multi-degreed professionals. Young, educated people want to be here. Companies have to follow the talent.

We’re excited to see how the pans out for Cary.

 

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